London "number 1 place to do business"

Date: 16/06/2011

Demand for London telephone numbers could increase over the coming months, as business activity is on the rise in the capital, according to the chancellor.

Speaking at a dinner for bankers and merchants hosted by London mayor Boris Johnson, George Osborne noted that growing numbers of firms - both domestic and international - are stepping up their presence in London.

"Look around the City today and activity is growing," he remarked, adding that there are now approximately 25,000 more jobs available in the Square Mile than 12 months ago.

"I've been at the openings of new headquarters and new buildings," Mr Osborne added, noting that growth is especially strong among banks, law firms and accountants.

Changes to the taxation of overseas earnings have helped boost activity in the capital, as this has encouraged multinational firms to move their headquarters back to Britain, he concluded.

The city has a long-standing reputation as one of the globe's foremost business centres and Andrew Horne, media and communications manager at the London Chamber of Commerce and Industry, recently described it as the "best place in the world" to base a company.